A finder's fee is a fee paid to someone who acts as an intermediary for another party in a transaction. Finder's fees may be offered in a variety of situations. For example, an employer may pay a finder's fee to a recruitment agency upon hiring a new employee referred by that agency. A finder's fee may be paid regardless of whether a transaction is ultimately consummated.
In a real estate context, a finder's fee may be paid for locating property, obtaining mortgage financing or referring sellers or buyers. A finders fee is money paid to a person for finding someone interested in selling or buying property. To conduct any negotiations of sale terms, the finder may be required to be a licensed broker or he violates the law. However, state laws, which vary by state, may also provide an exemption for certain individuals, allowing them to be compensated without the necessity of licensure. For example, one state's law allows an exemption for either a property management firm or an owner of an apartment complex to playa finders fee or referral of up to $50 to a current tenant for referring a new tenant. The fee can be in the form of cash, a rental reduction or some other thing of value. The party claiming compensation under this exemption is not allowed to advertise for prospective tenants.
Because they aren't technically held by the state, real estate created overages aren't subject to those finder fee limits. In fact, they're usually not subject to any limits at all (within reason... charge 95%, and you may be asking for a lawsuit). 30-50% is standard for those who specialize in collecting those funds.
These are the funds that are created when more is bid at auction for tax foreclosure and mortgage foreclosure properties. Those overages are more often than not due back to the former owners. Unfortunately for them, most don't realize this, and walk away from their financial mess without realizing they may have a small windfall awaiting them. Then, if they don't figure it out in time, they lose it to the agency holding the funds.
A Kentucky Agreement to Attempt to Locate Unclaimed Property of Client is a legally binding document that establishes a relationship between a client and an agency or individual who will make efforts to locate any unclaimed property on behalf of the client. This agreement is specifically related to unclaimed property in the state of Kentucky. Keywords: Kentucky, Agreement, Attempt to Locate, Unclaimed Property, Client There are various types of Kentucky Agreements to Attempt to Locate Unclaimed Property of Client, including: 1. Individual Kentucky Agreement to Attempt to Locate Unclaimed Property of Client: This type of agreement is entered into between an individual client and an agency or individual hired to locate unclaimed property solely for the client's benefit. It outlines the terms and conditions under which the agency will conduct the search and the obligations of the client. 2. Business Kentucky Agreement to Attempt to Locate Unclaimed Property of Client: This agreement is specifically designed for businesses or organizations seeking assistance in locating unclaimed property. It defines the responsibilities of the agency or individual in helping the business locate and recover any unclaimed assets. 3. Estate Kentucky Agreement to Attempt to Locate Unclaimed Property of Client: When an individual passes away, their estate may have unclaimed property that needs to be located and distributed to the rightful heirs or beneficiaries. This agreement outlines the terms and conditions under which the agency will search for unclaimed property on behalf of the deceased individual's estate. 4. Government Agency Kentucky Agreement to Attempt to Locate Unclaimed Property of Client: Government agencies may also require assistance in locating unclaimed property that belongs to their constituents. This type of agreement is entered into between the agency and the individual or agency that will make the attempts to locate the unclaimed property. 5. Non-Profit Organization Kentucky Agreement to Attempt to Locate Unclaimed Property of Client: Non-profit organizations may have unclaimed property that needs to be located, such as unclaimed donations, grants, or other assets. This agreement outlines the terms under which the agency or individual will conduct the search on behalf of the non-profit organization. In conclusion, a Kentucky Agreement to Attempt to Locate Unclaimed Property of Client is a comprehensive document that establishes the relationship between a client and the agency or individual responsible for locating unclaimed property in Kentucky. It is important for both parties to fully understand and agree upon the terms and conditions outlined in the agreement for a successful search and recovery process.
